Bitmine's Ethereum Losses Surge to $59.2 Billion, Setting New Record

Bitmine's Ethereum Unrealized Loss Hits $59.2 Billion

Data from EmberCN on February 1 revealed that Bitmine currently holds 4.243 million ETH at an average acquisition cost of $3,849 per coin. However, with ETH dropping near $2,400, the company's unrealized losses have soared to a record $59.2 billion.

This represents a loss of over one-third of its total holdings, equivalent to a -36% decline from its cost basis. The market downturn places significant strain on Bitmine's portfolio and highlights the volatility inherent in crypto assets.

• Total Holdings: 4.243 million ETH
• Average Cost: $3,849 per ETH
• Current Price: ~$2,400 per ETH
• Total Unrealized Loss: $59.2 billion

Analysts advise investors to focus on risk management and long-term strategies when navigating high-volatility markets.